Core Insights - The skincare and daily chemical industry in A-share listed companies has shown improvement in inventory status as of the first half of 2025, with only 6 out of 14 selected companies experiencing an increase in inventory scale [1] - Among the selected companies, only 5 have inventory turnover days below 90 days, indicating potential inefficiencies in inventory management for the remaining 9 companies [1] - The inventory turnover efficiency indicators for the industry are concerning, with 6 companies showing prolonged inventory turnover days, which may suggest risks of product obsolescence or slow sales [1] Inventory Analysis - In the first half of 2025, the inventory situation improved for the skincare and daily chemical listed companies, with a notable increase in inventory scale for Jinbo Biological, which had the highest year-on-year growth [1] - Only 5 companies, including Jiaheng Home, Qingsong Co., Proya, Shanghai Jahwa, and Lafang, maintained inventory turnover days below 90, while the other 9 exceeded this threshold [1] - Companies such as Huaxi Biological and Jinbo Biological are among those with longer inventory turnover days, raising concerns about their inventory management practices [1] Market Implications - The prolonged inventory turnover days across several companies may indicate a longer time frame from production to sale, potentially leading to product expiration risks [1] - The overall inventory turnover efficiency in the skincare and daily chemical sector is not optimistic, highlighting a need for companies to improve their inventory management strategies [1]

Core Insights - The skincare and daily chemical industry in A-share listed companies has shown improvements in inventory levels as of the first half of 2025, with only 6 out of 14 selected companies experiencing an increase in inventory size [1][2] Inventory Size Analysis - Jinbo Biological had the largest year-on-year increase in inventory, reaching 153 million yuan, a growth of 116.79% compared to the first half of 2024 [1][2] - Kesheng Co. also saw significant growth, with inventory at 628 million yuan, up 40.87% year-on-year [1][2] - Other companies with notable inventory increases include Marubi Biological (35.91%), Chuang'er Biological (34.02%), and Jiaheng Home Care (31.39%) [2] Inventory Turnover Days - Among the 14 selected companies, only 5 had inventory turnover days below 90 days, indicating efficient inventory management [3] - Companies with inventory turnover days exceeding 180 days include Huaxi Biological (331.61 days), Jinbo Biological (280.81 days), Kesheng Co. (230.92 days), and Betaini (195.78 days) [3][4] - The overall inventory turnover efficiency has not improved, with 8 companies experiencing longer turnover days, particularly those exceeding 180 days [3] Year-on-Year Changes in Inventory Turnover Days - Huaxi Biological's turnover days increased by 13.34%, Jinbo Biological by 15.66%, Kesheng Co. by 115.83%, and Betaini by 0.54% [3][4] - Notably, the turnover days for LaFang Home Care decreased by 27.40%, and Shanghai Home Care by 15.74%, indicating some companies are managing their inventory more effectively [4]

Core Insights - The 67th China (Shanghai) International Beauty Expo successfully showcased the vitality and potential of the beauty industry, emphasizing resilience, innovation, and intelligence in development [1][2] Group 1: Event Overview - The expo covered an exhibition area of 150,000 square meters, featuring over 1,800 exhibitors from more than 68 countries and regions, displaying over 10,000 selected product categories [2] - The event attracted significant foot traffic and facilitated vibrant business exchanges, highlighting the robust market activity within the beauty sector [2] Group 2: Global Expansion - The expo aimed to build a new ecosystem for diverse cooperation in the beauty industry, establishing an efficient global communication platform for sourcing and sales [3] - It gathered professional buyers from various channels, including traditional retailers and new e-commerce trends, showcasing international exhibitors from countries like South Korea, Japan, the USA, and Canada [3] - Plans for 2025 include the addition of the "Indonesia International Beauty Expo" and "Vietnam International Beauty Expo," supporting Chinese beauty brands in expanding overseas [3] Group 3: Industry Innovation - The expo focused on industry logic, uniting upstream and downstream brand forces, with new products covering multiple fields, enhancing brand competitiveness and driving technological upgrades [4] - AI technology in beauty attracted attention, while several medical beauty brands accelerated their entry into the daily skincare market [4] - The event highlighted the "Matthew Effect" in the daily chemical sector, with leading brands leveraging resources to enter professional channels [4] Group 4: Future Trends - The expo outlined a development blueprint for the beauty industry through a systematic approach of summits, activities, and special exhibitions, providing forward-looking insights [5] - Over 50 special events were held during the expo, covering topics such as beauty, health, and e-commerce, enhancing the industry's outreach and impact [5] - The event featured 15+ themed exhibition areas, showcasing innovations in professional technology, AI applications, and cross-industry segments [5] Group 5: Looking Ahead - The beauty expo is set to embark on a new journey, focusing on domestic demand and actively exploring new growth areas for Chinese beauty brands [6] - The next edition, the 68th China (Guangzhou) International Beauty Expo, is scheduled for September 4-6, 2025, in Guangzhou [6]